Changes in employment status amid the pandemic likely led to the decrease, a BCBS of Massachusetts spokesperson told the Journal.
BCBS of Massachusetts now has about 2.9 million members, still making it the state’s largest insurer, according to the newspaper.
In a May 14 news release sharing the insurer’s first quarter financial results, BCBS of Massachusetts CFO Andreana Santangelo said, “It’s very challenging to predict what the rest of 2021 will look like, given all the uncertainty related to COVID. Medical spending has been extraordinarily volatile during the pandemic, so we’re proceeding cautiously.”
BCBS of Massachusetts ended the first quarter of fiscal year 2021 with a net income of $77.2 million on revenue of $2.1 billion, the insurer said in the news release.
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